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Charter to use note proceeds to redeem three series of notes
Chicago, Feb. 6 – Charter Communications Inc. announced that it will use the proceeds from its new $1.65 billion offering of senior notes to fully repay three series of notes, according to an 8-K filing with the Securities and Exchange Commission.
The company plans to redeem its 5 1/8% senior notes due 2023, its 5¾% senior notes due 2023 and its 5¾% senior notes due 2024.
The new offering from CCO Holdings LLC/CCO Holdings Capital Corp. priced on Feb. 3.
Some of the proceeds from the offering will also be used to fund potential buybacks of class A common stock of Charter Communications, Inc. or common units of Charter Communications Holdings LLC.
Charter is a Stamford, Conn.-based broadband communications company.
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